May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Mar 11, 2014, 1:10 PM EDT
To be fair to the ball boy, nobody expects Tyler Hansbrough to make a steal on the perimeter then race out on the fast break by himself.
Mar 11, 2014, 12:25 PM EDT
Don’t use cotton swabs, kids.
Mar 11, 2014, 11:47 AM EDT
With backup center Ian Mahinmi out for the night, the Andrew Bynum era in Indiana will begin Tuesday against Boston.
Mar 11, 2014, 11:25 AM EDT
Conflicts with yesterday’s prominent report
Mar 11, 2014, 11:11 AM EDT
All the way to playoffs?
Mar 11, 2014, 10:43 AM EDT
Also compares his phone to bell bottoms, which might be pretty ironic, but I’m not a fasion expert.
Mar 11, 2014, 10:03 AM EDT
Yannick Noah would rather do more of the Dikembe Mutombo finger wag
Mar 11, 2014, 9:30 AM EDT
This seems like more than a coincidence.
Mar 11, 2014, 8:44 AM EDT
Griffin should have gone for the full tear, though.
Mar 11, 2014, 8:00 AM EDT
“There’s no better preparation than going straight to the NBA… I think the NBA is the best teacher.”
Mar 11, 2014, 3:20 AM EDT
Blake Griffin is good at basketball. Also: Kyle Korver can still shoot.
Mar 11, 2014, 3:05 AM EDT
Los Angeles learned an important less on Monday — don’t let up against the Suns.
Mar 11, 2014, 1:18 AM EDT
“We got tangled up and went down and, you know,” Griffin said with a grin after the game.”Took a little forearm. But you know, it happens.”
Mar 11, 2014, 12:14 AM EDT
This was not the one shot Griffin missed on Monday.
Mar 10, 2014, 11:05 PM EDT
Guard has been out since Jan. 10 surgery to repair a torn meniscus in his right knee.
Mar 10, 2014, 10:03 PM EDT
Serious charge of fun challenge?
Mar 10, 2014, 8:44 PM EDT
Run, Phil, run
Mar 10, 2014, 8:04 PM EDT
All the audio and video you need to enrich your NBA feud of the day.
Mar 10, 2014, 7:07 PM EDT
Does he mean Carmelo Anthony, Andrea Bargnani or J.R. Smith?
Mar 10, 2014, 6:11 PM EDT
Phil Jackson seems destined for New York. I argue that’s a good thing… but only if Jackson has a Jedi mind trick that can keep James Dolan at bay.
- Vogel: Andrew Bynum to play for Indiana Pacers Tuesday night 4
- Report: Phil Jackson expected to finalize contract with Knicks by end of week 18
- The Extra Pass: Gerald Green doesn’t regret moment of his winding journey to NBA stardom 5
- Monday NBA grades: Blake Griffin shows off his jumper (and yes, he can still dunk) 6
- Suns’ P.J. Tucker ejected after elbow thrown to Blake Griffin’s head (VIDEO) 15